Dime Bank Foundation Inc is a private foundation based in Norwich, Connecticut, established in 1998. The foundation is the philanthropic arm of Dime Bank, enabling the bank to support and give back to the communities it serves. The foundation is a 501(c)(3) organization with tax-exempt status since July 1998.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.7M
+12.5% YoY
Annual Giving
$340K
+30.8% YoY
Grant Count
1
-98.3% YoY
Avg Grant Size
$340K
+7616.5% YoY
Under IRS private-foundation payout rules, Dime Bank Foundation Inc reported a distributable amount of $313K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports programs designed to promote:
- Affordable housing
- Basic human services for those at-risk
- Cultural enrichment with emphasis on disadvantaged populations
- Education, job training, and literacy
- Opportunities for collaborative efforts
- Services for under-served children, families, or the elderly with emphasis on those with low-to-moderate income levels
The foundation's focus is on programs and activities that provide, strengthen, or enhance services to members of communities that are most at-risk.
Grantmaking
The foundation accepts applications on a year-round basis and awards grants three times per year.
Average Grant
amount varies by funding cycle
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Geographic Focus
Where this funder awards grants
The foundation supports nonprofit organizations and governmental units that provide programs for residents of:
- New London County, Connecticut
- The towns of Glastonbury and Manchester, Connecticut
- The towns of Hopkinton, Richmond, and Westerly, Rhode Island
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $6,666,390 (as of most recent filing)
Annual Giving: $339,608 (based on most recent IRS Form 990 filing from 2024)
Total Historical Giving: More than $1.4 million awarded since the foundation's inception in 1998
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,666,390 | $5,923,425 | $5,304,249 |
| Revenue | $287,802 | $215,705 | $281,910 |
| Expenses | $338,073 | $291,164 | $284,341 |
| Qualifying Distributions | $341,608 | $261,187 | $280,442 |
| Net Investment Income | $285,802 | $214,180 | $280,460 |
| Distributable Amount | $312,864 | $270,448 | $271,144 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
201 grants across all recorded years
Open Grants
1 open opportunity from Dime Bank Foundation Inc
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Total Contributions paid ($339,608).
| Recipient | Purpose | Amount |
|---|---|---|
| Total Contributions paid Norwich, CT | Exempt Purpose | $339,608 |
Leadership & Key People
Leadership team and compensation from IRS filings
Dee Sullivan served as administrator of the foundation as of 2013.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Nicholas Caplanson | President/Director | 1 | — |
| Deirdre Sullivan | Secretary | 1 | — |
| Atty Linda L Mariani | Director | 1 | — |
| Dr Mark E Tramontozzi | Director | 1 | — |
| Lee-Ann Gomes | Director | 1 | — |
| Steven L Bokoff | Director | 1 | — |
| Peter Maneri | Director | 1 | — |
| BONNIE STEWART | Director | 1 | — |
| PAUL MAXFIELD | DIrector | 1 | — |
| John Lund | VP/Treasurer | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation has continued its grantmaking activities, with recent awards announced to organizations providing community services, housing assistance, and food services in its service areas.
Dime Awards Grant to LIEOC for Community ServicesSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Dime Bank Foundation Inc fund?
The foundation supports programs designed to promote: • Affordable housing • Basic human services for those at-risk • Cultural enrichment with emphasis on disadvantaged populations • Education, job training, and literacy • Opportunities for collaborative efforts • Services for under-served children, families, or the elderly with emphasis on those with low-to-moderate income levels The foundation's focus is on programs and activities that provide, strengthen, or enhance services to members of co…
How do I apply for a grant from Dime Bank Foundation Inc?
**Grant Amounts:** • Typical awards range from $994 to $339,608 • Average grant amount varies by funding cycle **Application & Award Process:** The foundation accepts applications on a year-round basis and awards grants three times per year. **Recent Grant Activity:** As of May 2013, the foundation awarded $64,500 to 28 nonprofit organizations in New London County and the Westerly/Pawcatuck areas. Since its inception, the foundation has awarded more than $1.4 million to organizations in the reg…
Where does Dime Bank Foundation Inc make grants?
The foundation supports nonprofit organizations and governmental units that provide programs for residents of: • New London County, Connecticut • The towns of Glastonbury and Manchester, Connecticut • The towns of Hopkinton, Richmond, and Westerly, Rhode Island
What size grants does Dime Bank Foundation Inc award?
In 2024, Dime Bank Foundation Inc awarded 1 grants totaling $340K — an average of about $340K per grant, based on its IRS Form 990 filings.
How much is Dime Bank Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Dime Bank Foundation Inc reported a distributable amount of $313K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Dime Bank Foundation Inc's EIN?
Dime Bank Foundation Inc's EIN (Employer Identification Number) is 06-1507800. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Dime Bank Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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